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$1.2bn loan: Banks’ shareholders push for Etisalat’s takeover

Some shareholder bunches in the capital market has asked Etisalat Nigeria to Settle the $1.2 billion obligation it owed 13 business banks to keep away from its takeover.

A cross segment of the shareholder bunches expressed this in a meeting with the News Agency of Nigeria (NAN) in Lagos yesterday.

They demanded that the organization must settle the obligation for the banks to get together with their profit commitments.

National Coordinator, Progressive Shareholders Association of Nigeria, Mr Boniface Okezie, prompted Etisalat to settle the obligation owed the business banks to maintain a strategic distance from a lawful activity.

He said the influenced banks should approach the court for receivership if the telco neglected to settle the obligation, including that the banks had commitments to their shareholders as far as profit installment toward the finish of the monetary year.

Additionally, the Chairman of Nigeria Professional Shareholders Association, Mr Godwin Anono, said the firm should settle the obligation and stop from making pointless commotion about the entire thing.

He said the exchange was in accordance with client bank relationship, noticing that the terms and conditions must be complied.

Anono said assist that the shareholders were in help of the banks to gain the firm on the off chance that it neglected to settle the credit.
This is like any other transaction, it’s not government business and I stand on existing protocol that the banks should acquire the company,’’ he said.

In his view, Mr Sewa Wusu, Head Research, SCM Capital Ltd., said the issue of credit amongst Etisalat and the consortium of banks was a client bank relationship which should be settled genially with terms pleasant between both sides.

This post first appeared on Adamawa Celebrities, please read the originial post: here

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$1.2bn loan: Banks’ shareholders push for Etisalat’s takeover


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